Archive for tag Tax credit
March 19, 2010 at 03:04 PM
There are 42 days left to secure your home buying tax credits! Here’s another pertinent informational piece to assist you in navigating through the next 42 days.
Many buyers and sellers continue to ask what we, as experts, feel will happen with the market, after the expiration. There are many factors that will impact the rest of the year, but today we will focus on foreclosures. My favorite expert, Steve Harney, looks in detail at the foreclosure market in this article. Foreclosures will continue to drive the selling prices down, as banks start to release their inventory on the open market. This is great news for buyers. For sellers, it means that NOW is the time to maximize your selling price.
To see how Shorewest and I can maximize your selling price, contact me directly. I am committed to serving my buyers and sellers by promoting the truth about the market in a productive and positive manner.
Posted by:
Karen Trepton
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March 17, 2010 at 05:35 PM
As of today, there are only 44 days left to secure the homeowner’s tax credits. Not only will the credits expire shortly, experts predict that mortgage rates will rise, and possibly MORE than at a modest pace. James Hagerty cites timely information in this Wall Street Journal article.
Steve Harney, renowned real estate advisor, states this in his recent monthly newsletter…
1. Realize that the price a homeowner can get for their home today is greater than it will be on May 1st.
Any buyer who is not in contract on April 30th this year will miss out on the Home Buyer Tax Credit ($8,000 for a first-time buyer and $6,500 for the move-up buyer). That does NOT mean houses will not sell after April 30th. It means that the buyer will demand a better price.
If you need to sell, sell now.
2. Realize more and more experts are predicting a surge in interest rates later this year.
Some examples:
Guy Cecala, publisher of Inside Mortgage Finance:
“There is no question rates have been kept artificially low by the Fed’s heavy buying. My opinion is that rates will go up a full percentage point initially.”
(meaning that 30-year fixed conforming loans, now hovering around 5 percent, would hit 6 percent)
Christopher Thornberg, principal at Beacon Economics:
“Clearly, when they (the Fed) stop printing all that money, it’s going to be a shock to the system. I have to assume that when they pull back on it, it will cause a 100- to 200-basis-points rise. When they start selling off the stuff they purchased, which by my guess would come early next year, that would cause another 100- to 150-basis-points rise.”
(meaning rates of 6 percent or 7 percent originally and then 7 percent to 8 percent or higher within a year)
For a profile of current rates, take a look at this Wisconsin Mortgage rate sheet , as reported this week. A one percent increase in interest rates will equate roughly to a 10% decrease in home price, in order to keep payments apples to apples. This equates to less buying power for purchasers, and reduced prices for home sellers. For questions regarding this information, contact me directly at ktrepton@shorewest.com.
Posted by:Karen Trepton
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February 16, 2010 at 09:09 PM
The clock is ticking if you are interested in taking advantage of the tax credits for home buyers and sellers. Actually, between taking this photo and uploading it, I lost a day, so we are at 73 days and counting.
Don’t lose out on your ability to put these tax credits to work for you. In 73 days, the credits run out, and other leading factors will start to dramatically change the real estate picture. I am not an alarmist, but I do believe that as a Realtor I have a duty and obligation to inform my clients about the forecasted changes to interest rates, pricing, and levels of inventory that may affect their ability to reach their real estate goals in 2010.
If you have questions about how these factors may affect YOUR real estate goals in southeastern Wisconsin, call me. I am committed to making your real estate goal, my number one real estate goal!
Posted by:Karen Trepton
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July 06, 2009 at 02:34 PM
Now is the best time for you to acquire that new home! Homes prices are low, interest rates are low and we have a lot of inventory for you to choose from.
Did you ever stop to wonder why people purchase the American Dream? Well, some of the reasons you might hear is because you want one, your income allows you to afford one and it seems like the right time in your life. However, the biggest reason for you to own your own home is because it will be yours. The rent money you pay to someone else every month will no longer exist and one of the greatest benefits is the fact that your home will reflect your own personality.
Now, you are probably thinking you can’t afford one at this time, but we have several wonderful programs that will help make that happen. FHA has a program that allows you to put as low as 3.5 percent down. In addition, if you haven’t saved a lot of money, or if you are a single parent, you may qualify for a special grant thru the federal government. Lastly, if you are a First-Time Home Buyer (which means, anyone who has not owned a home in the last three years), the federal government has provided an $8,000.00 Tax Credit for you. This tax credit is only available thru November 30, 2009, which means you must have closed on your new home on/or before November 30, 2009, and you won’t have to pay back any of this money. To qualify your income level must be $75,000 or less, if you are single and $150,000 or less for couples.
If you want to own a piece of the American Dream, now is the time to begin your search. Please give me a call today to start you on your way to owning a new home.
Posted by:
Sharon Tomlinson
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April 16, 2009 at 04:06 PM · Posted under Glenn Hanon
Agree or disagree with the merits behind the Housing Stimulus offered to first time home buyers, we can all agree that it is motivating buyers to move forward. And every statistic shows that if 
the first time home buyer is out buying homes all other price ranges begin to see movement. Sara and Andrew took advantage of the $8,000 incentive and just bought their first home in Oconomowoc. The $8,000 definitely made a difference when it came time to think about buying their dream home. “Without the incentive, I think we would not be able to move forward with our new home, which we love and can’t wait to move into this May!” says Sara. With the help of their lender and REALTOR®, Glenn Hanon, Sara and Andrew grew more excited that apartment living would be a thing of the past. The credit will help with the down payment and perhaps a small improvement to their home. “2009 is the year to buy”, explained Andrew, “We were able to buy the house we wanted.” If you are contemplating a move from a rental and you think you may qualify for the $8,000 credit, feel free to call me at the office, 262-567-4349 and we can meet to discuss your dreams.
Posted By:
Glenn Hanon
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